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Movado Narrows 1st Quarter Loss, to Close Retail Division

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Paramus, NJ—Although Movado Group Inc. (MOV.N) posted a narrower-than-expected quarterly loss on Thursday, it will close its Movado-brand retail boutiques, which would cut watch company’s 2010 revenue by $30 million. The company, which distributes watch brands such as Movado, Concord, Tommy Hilfiger and Hugo Boss, said it was shutting down …